UTEX is launched globally for the development of a decentralized financial market

UTEX (United Exchange) is the first decentralized exchange established based on the TRON public chain.

November 1, 2020 /PressReleaseAgency/ —

Since 2019, DeFi has become a long-term hot topic in the blockchain field. Platforms and products that provide DeFi services have also sprung up, and various decentralized projects have caused a lot of waves in the market. DeFi is considered a "new financial revolution movement".

The development of new finance in the infancy stage is somewhat slow. Take Maker and Compound as examples. Although they have achieved over-collateralized lending business, they have also attracted a lot of attention in the early stage of the market, but they will be found to be slow, cumbersome and difficult to manage in actual use.

When DeFi entered the breakthrough stage, experts realized that crypto-native financial products are possible, and decentralization is the absolute direction of the future development of the financial field. "Traditional" products that use the potential of decentralization have gained more and more advantages. And payment, DAO, financial lending, decentralized exchanges, etc. are the potential applications of DeFi at this stage.

TRON is a technology company that promotes the decentralization of the Internet as its mission and is committed to building infrastructure for the decentralized Internet. The TRON protocol is one of the blockchain-based decentralized application operating system protocols, which provides high-throughput, high-scalability, and high-reliability underlying public chain support for the operation of decentralized applications on the protocol. TRON is currently recognized as the first public chain in the blockchain industry.

UTEX (United Exchange) is the first decentralized exchange established based on the TRON public chain. With the advantages of TRON’s ultra-low handling fee and extremely fast transfer speed, it redefines the decentralized exchange and opens a new open financial market and mining revenue model.

The birth of UTEX also solved the three biggest problems in the initial development of DeFi: trust, transaction efficiency, and convenient operation. In UTEX, users can start all the DeFi products integrated in UTEX in less than 1 minute, including core DeFi content such as lending, flash trading, and liquidity mining. The ultra-high convenience makes the operation of DeFi as simple as ordinary APP.

According to official sources, TRON will launch UTEX globally on November 1, 2020. It will be fully open to users worldwide to download and register, open community recruitment, and help all users participate in the open financial market. At the same time, on November 5th, core DeFi applications such as coin deposit, liquidity mining, and lending will be opened, and users can exchange TRC20 tokens at will in UTEX.

In this world where decentralized finance is increasingly valued, the launch of UTEX will provide a safer, more efficient and reliable solution. This is the decentralization that allows ordinary users to participate in truly zero barriers to entry. The transaction protocol, it is believed that the decentralized transaction that people recognize will change from the launch of UTEX.

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Source: PressReleaseAgency

Release ID: 88983720